LIC Housing Finance today announced a cut in interest rates for its new customers under Floating Rate Loans & 3-year Fix-o-Floaty Rate Loans.
For Home Loan borrowers preferring Floating rates ab-initio the Special Offer Rates for new customers for loans upto Rs. 75 lacs will be 8.75%. Earlier the Special Offer Rates for Loans above Rs. 30 lacs upto Rs. 75 lacs were priced at 9.25%.
For Home Loan borrowers opting for the 3-year Fix-o-Floaty scheme, the Rates for new customers for loans upto Rs. 75 lacs will be 8.90%. The earlier rate of interest for Loans above Rs. 30 lacs upto Rs. 75 lacs was 9.50%.
The rates will be effective w.e.f 1st August, 2009.